Palantir Technologies Inc. (NASDAQ:PLTR) Shares Sold by Columbia Asset Management

Columbia Asset Management cut its position in shares of Palantir Technologies Inc. (NASDAQ:PLTR) by 14.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 2,441 shares of the company’s stock after selling 410 shares during the quarter. Columbia Asset Management’s holdings in Palantir Technologies were worth $206,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of PLTR. Geode Capital Management LLC grew its holdings in shares of Palantir Technologies by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 52,074,232 shares of the company’s stock worth $3,929,401,000 after acquiring an additional 4,127,306 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Palantir Technologies by 20.4% in the 4th quarter. Northern Trust Corp now owns 19,488,465 shares of the company’s stock worth $1,473,913,000 after acquiring an additional 3,299,779 shares during the last quarter. Norges Bank acquired a new position in shares of Palantir Technologies in the 4th quarter worth $1,360,191,000. FMR LLC grew its holdings in shares of Palantir Technologies by 22.6% in the 4th quarter. FMR LLC now owns 15,296,371 shares of the company’s stock worth $1,156,864,000 after acquiring an additional 2,818,090 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Palantir Technologies by 31.2% in the 4th quarter. Invesco Ltd. now owns 14,748,240 shares of the company’s stock worth $1,115,409,000 after acquiring an additional 3,509,311 shares during the last quarter. 45.65% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Alexander C. Karp sold 358,982 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $126.39, for a total transaction of $45,371,734.98. Following the completion of the transaction, the insider now owns 6,432,258 shares of the company’s stock, valued at approximately $812,973,088.62. The trade was a 5.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Stephen Andrew Cohen sold 1,250,000 shares of the business’s stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $85.30, for a total value of $106,625,000.00. Following the transaction, the insider now owns 592 shares in the company, valued at $50,497.60. This represents a 99.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,894,925 shares of company stock valued at $369,820,528 over the last quarter. Insiders own 9.23% of the company’s stock.

Palantir Technologies Price Performance

Shares of NASDAQ:PLTR opened at $130.01 on Thursday. Palantir Technologies Inc. has a fifty-two week low of $21.23 and a fifty-two week high of $135.28. The business has a 50-day moving average of $108.44 and a two-hundred day moving average of $91.31. The stock has a market capitalization of $306.81 billion, a P/E ratio of 684.30, a P/E/G ratio of 10.84 and a beta of 2.64.

Palantir Technologies (NASDAQ:PLTR) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.13 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.13. Palantir Technologies had a return on equity of 6.85% and a net margin of 16.13%. The company had revenue of $883.86 million during the quarter, compared to analysts’ expectations of $863.89 million. During the same quarter in the previous year, the firm earned $0.08 earnings per share. The business’s quarterly revenue was up 39.4% compared to the same quarter last year. As a group, research analysts expect that Palantir Technologies Inc. will post 0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Cantor Fitzgerald lifted their target price on Palantir Technologies from $98.00 to $110.00 and gave the stock a “neutral” rating in a report on Tuesday, May 6th. Loop Capital raised their target price on Palantir Technologies from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Daiwa America raised Palantir Technologies to a “hold” rating in a research report on Tuesday, April 1st. Daiwa Capital Markets initiated coverage on Palantir Technologies in a research report on Tuesday, April 1st. They issued a “neutral” rating and a $90.00 target price for the company. Finally, Morgan Stanley raised their target price on Palantir Technologies from $90.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $83.95.

Palantir Technologies Company Profile

Palantir Technologies, Inc engages in the business of building and deploying software platforms that serve as the central operating systems for its customers. It operates under the Commercial and Government segments. The Commercial segment focuses on customers working in non-government industries. The Government segment is involved in providing services to customers that are the United States government and non-United States government agencies.